As the mobile banking industry continues to grow, so does the need for security. With a rise in fraud and identity theft, banks are taking extra precautions to ensure that their customers’ accounts are safe from criminals. One-way banks are doing this is by implementing two-step verification (2SV) through text messages. But what exactly is 2SV? And how do you get it?
Here’s everything you need to know about receiving SMS verification. From understanding how 2SV works and what benefits it offers, to setting up your account for 2SV.
Why Do Banks Need 2SV?
To protect customers’ accounts and personal information, banks are now implementing SMS verification to 2SV as an added layer of protection.
What Is 2SV?
2SV is a security measure that banks implement to protect their customers. The process includes two steps: entering your username and password, then you will receive sms now through text message or an app on your phone.
To set up 2SV, you’ll need to download the bank’s official mobile app on your phone and follow the instructions for downloading the SMS passcode generator app.
You will also need to turn on notifications for both apps so you will receive alerts when someone attempts to access your account from another device. This means that if someone were to log into your account without permission and try to change any information, you would immediately receive a notification about it on your phone. Once all of this is set up, you are ready for two-step verification!
Getting A Verification Code Through SMS
If you’re looking for an extra layer of protection for your mobile banking account, then you need to know about 2SV. This is a security measure that requires customers to verify their identity with a text message before accessing their account. Customers can choose to receive verification codes through SMS (text message), or they can set up verification through an authenticator app like Google Authenticator.
This process is easy if you know where to start. The first step is to decide which method of verification you want to use- SMS or an authenticator app- and go from there.
Getting AVerification Code Through The App
When you first sign up for 2SV, you need to download the bank’s app. If you have an iPhone, the bank should be able to send a verification code through the app. You can also get a verification code through your text messages or email. However, if you don’t have access to any of those methods and the bank doesn’t offer 2SV through their site, it may not be worth signing up.
After you sign up for 2SV, anytime you want to log into your account or make a purchase with your account, you will need to input your password and verify your identity with a code sent either through text message or email.
This step-by-step process will help keep your money safe from fraudsters and identity thieves while also making it easy for you to manage your account. The best part is that most banks offer this service free of charge!